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What if the transfer train doesn't go?
What will happen to cars without stages?

1. Credit information of overdue records: the automobile installment loan record must be credit information. If it is overdue, the credit information record will be updated synchronously. The longer the overdue period, the easier it is to cause credit stains.

2. Penalty interest: According to the loan contract, users will be charged a certain penalty interest for overdue repayment.

3. It may be: there is no repayment for more than 3 months, and the bank or auto consumption finance company may be the lender.

What happens when you buy a car and don't pay back the loan? The consequences are a bit serious.

Speaking of buying a car, for most people, it is a common choice to buy a car by loan, because a large sum of money is needed in the short term, and the pressure is relatively high considering the needs of daily life, but the loan for buying a car also needs to be repaid on time in the later period. What will happen if you don't pay back the loan when you buy a car? Let's have a look.

What happens when you buy a car and don't pay back the loan?

1, credit information becomes worse.

Loan to buy a car, the loan and repayment of the loan will basically be reported to the credit bureau. If you don't repay the loan on time, the borrower's credit will get worse and there will be overdue records. Overdue loans are not settled and overdue for more than 90 days, which is malicious. If you want to apply for other loans, it will be difficult to succeed. Even if the overdue car loan is settled, the overdue record will be kept in the credit report for 5 years.

2. It will be collected by the lending institution.

No matter whether you borrow money from a bank or an auto financing company, as long as you can't repay it on time, the lending institution will definitely take certain collection measures in order to recover the loan, such as calling and sending text messages to remind the borrower to take the initiative to repay.

If the loan vehicle is equipped with GPS, and the overdue time is too long, the lending institution may tow the vehicle away according to law until the borrower settles the loan.

3. Lending institutions.

If the borrower fails to repay the loan and the car is not equipped with GPS, the lending institution cannot tow the car according to law. If the repayment period exceeds the agreed time limit, the lending institution may bring a lawsuit to demand the borrower to repay. If the borrower is still unable to repay the loan after compulsory execution, the vehicle may be auctioned to compensate the loss of the lending institution. The owner spent money, but didn't drive the car out in the end, which is equivalent to wasting a lot of money and becoming a dishonest executor, which will affect the application for other loans in the future, and the impact is relatively negative.

I believe that if you have borrowed money to buy a car, what will happen if you don't pay back the loan? Now that you have borrowed money, in order to drive with peace of mind, you must strive to repay it on time as soon as possible. When you are unable to repay, you should actively negotiate with the bank and don't escape, so as not to bring greater negative impact.

If you buy a car by installment, it's time to pay back the money. What if you don't repay the loan?

If you buy a car by installment, it's time to pay back the money. If you don't repay the loan, you will be sued and held liable for breach of contract.

Under normal circumstances, due to economic or other problems, if you don't repay for a short time, you will be fined at most. However, if it is not returned for a long time, banks or distributors will collect it through different forms.

If the collection fails, the people will be prosecuted according to law, requesting an order to pay the car purchase price and liquidated damages.

In accordance with the relevant provisions of Paragraph 1 of Article 60, Paragraph 1 of Article 107 and Paragraph 1 of Article 114 of the Contract Law of People's Republic of China (PRC), it is decided to pay the car purchase price and liquidated damages according to law.

Extended data:

1. If you don't pay back the loan for buying a car, you may be required to pay back the money, or you may be required to take back the vehicle to pay the use fee or pay all the money.

2. Article 159 of the Contract Law stipulates: "The buyer shall pay the price according to the agreed amount." Borrowing money to buy a car without paying it back is a breach of contract and illegal.

According to Article 159 of the Contract Law, if the buyer refuses to repay the loan, the seller may demand a refund according to law, and at the same time may apply for the preservation of the car.

3. Article 167 of the Contract Law stipulates: "If the installment payment amount that the buyer fails to pay the due price reaches one fifth of the total price, the seller may require the buyer to pay the full price or terminate the contract. If the seller terminates the contract, it may require the buyer to pay the royalties of the subject matter. "

If the loan car purchase contract is an installment car purchase contract, if the car buyer fails to pay one-fifth of the total car payment.

The seller may request to terminate the sales contract, take back the vehicle and pay the vehicle use fee. Of course, the seller can also ask the buyer to pay the full amount of the vehicle.